Virginia Retirement Systems ET AL boosted its holdings in NetScout Systems, Inc. (NASDAQ:NTCT) by 25.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,900 shares of the technology company’s stock after acquiring an additional 8,600 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in NetScout Systems were worth $1,388,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in NTCT. Airain ltd bought a new stake in shares of NetScout Systems in the 2nd quarter worth approximately $1,239,000. Gilman Hill Asset Management LLC bought a new stake in shares of NetScout Systems in the 3rd quarter worth approximately $323,000. Balyasny Asset Management LLC bought a new stake in shares of NetScout Systems in the 2nd quarter worth approximately $5,968,000. North Star Asset Management Inc. grew its stake in NetScout Systems by 6.0% in the 3rd quarter. North Star Asset Management Inc. now owns 199,029 shares of the technology company’s stock valued at $7,553,000 after buying an additional 11,305 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its stake in NetScout Systems by 3.9% in the 2nd quarter. Eagle Asset Management Inc. now owns 87,870 shares of the technology company’s stock valued at $3,022,000 after buying an additional 3,268 shares in the last quarter.
A number of research analysts have recently commented on the stock. KeyCorp restated a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Piper Jaffray Companies assumed coverage on shares of NetScout Systems in a research report on Monday, November 13th. They set an “overweight” rating and a $34.00 price target for the company. Royal Bank of Canada reiterated a “hold” rating and issued a $35.00 target price on shares of NetScout Systems in a research report on Tuesday, October 10th. B. Riley reiterated a “buy” rating and issued a $36.00 target price on shares of NetScout Systems in a research report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.20.
Shares of NetScout Systems, Inc. (NTCT) opened at $30.05 on Friday. The firm has a market cap of $2,614.23, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.79 and a beta of 1.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.60 and a quick ratio of 1.51. NetScout Systems, Inc. has a one year low of $27.65 and a one year high of $38.47.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. NetScout Systems had a net margin of 1.52% and a return on equity of 5.15%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. equities analysts anticipate that NetScout Systems, Inc. will post 1.59 EPS for the current fiscal year.
NetScout Systems announced that its Board of Directors has authorized a share buyback program on Thursday, October 26th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
In related news, insider Michael Szabados sold 5,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the transaction, the insider now directly owns 43,424 shares of the company’s stock, valued at $1,224,122.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Downing sold 3,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total transaction of $84,510.00. Following the completion of the transaction, the executive vice president now directly owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The disclosure for this sale can be found here. Corporate insiders own 3.51% of the company’s stock.
About NetScout Systems
NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.